Dr Asim finally says goodbye to Pakistan on September 11, 2017KARACHI: President of PPP’s Karachi chapter and a close aide of former president Asif Ali Zardari, Dr Asim Hussain Sunday left Karachi for London for his medical treatment following the permission granted to him by the Supreme Court. Dr Asim, who is facing corruption charges besides allegations of providing medical treatment to alleged terrorists and […]
Pakistan equities close in red amid lackluster performance on September 1, 2017KARACHI: The bullish sentiments proved short-lived on the weekend session as investors’ main focus remained on cow counting rather than trading. The benchmark KSE 100 index shed 116.66 to settle down at 41206.99 ahead of Eid holiday. Besides being shortened & rain-lashed, trading during the week preceding Eid was underpinned by HBL’s (-19% WoW) tactical […]
SBP reviews working of Pakistani banks’ foreign branches on August 30, 2017KARACHI: The State Bank of Pakistan (SBP) is reviewing the working of foreign branches of Pakistani banks to ensure implementation of regulatory compliance in other countries so that no untoward incident takes place in the future, SBP Governor Tariq Bajwa said on Tuesday. Addressing the participants of a meeting held at the Karachi Chamber of […]
Bearish spell persists at PSX, index sheds further 668 points on August 29, 2017KARACHI: Bearish sentiments at Pakistan stock market entered new week on with benchmark KSE100 index declining to another 2017 low, sliding 668 points to close at 41,974 points. Market opened gap down in the morning as notification issued in pre-open by Habib Bank on facing hefty penalization spooked investors and dented market sentiments. New York […]
Pakistan suffers $2b current account deficit in first month of FY18 on August 22, 2017KARACHI: Rising import bill and disappointing export performance continue to bleed Pakistan financially at external front as the country’s current account deficit swelled to $2.091 billion in the first month of the current fiscal year, FY18, against $667 million of the same period of last fiscal year FY17. The current account deficit increased to 7.2 […]
Italian investors to set up food processing facility in Pakistan on August 18, 2017KARACHI: Italian investors are negotiating with leading Pakistani groups to set up food processing facility and joint venture in power sector, Consul General of Italy, Gianluca Rubagotti said here on Thursday. Rubagotti was talking to journalists at an event “Destination Italy”, organized to brief about business opportunities available in Italy’s tourists destination “il Vittoriale degli […]
FDI increases by 163% in 1MFY18 on August 17, 2017KARACHI: Foreign Direct investment in the first month of the current fiscal year, 1MFY18, has posted substantial growth of 163 percent to $222.6 million as compared to $84.7 million invested during the same period of the previous fiscal year. Malaysia emerged as the biggest foreign investor in Pakistan with a total investment of $91.6 million […]
PSX witnesses bloodbath, index nosedives by 1,389 points on August 16, 2017KARACHI: Pakistan equities witnessed a bloodbath on Tuesday as the benchmark KSE-100 index nosedived by massive 1,389 points amid political developments couple with foreign outflows, crude price fall in international market. The benchmark index close at 43,899 points. The equity market started on a weaker note and struggled for direction in early hour with stocks […]
NBP poised to open branches in China by mid of next year on August 12, 2017Karachi: National Bank of Pakistan is poised to open its full-fledged branches in China by the mid of the next year. The branches will be opened in Beijing and Shanghai, informed President NBP, Saeed Ahmed. Talking to journalists during an informal meeting at NBP Head office on Friday, Saeed Ahmed said that branches will be […]
PSX closes positive as clouds of uncertainty cleared on July 29, 2017Karachi: An exciting day comes to an end with the benchmark KSE100 index managing a green close after wild swings as Supreme Court announced the much-awaited verdict on Panama Case and disqualified Prime Minister Nawaz Sharif, ending one of the phases of uncertainty. KSE-100 opened down around 900 points as the previous night’ the SC […]